ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA RADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), NAGPUR vs. M/S. RADHA MADHAV DEVELOPER , NAGPUR

In the result, all the six appeals preferred by the department are dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1),NAGPUR, NAGPUR vs. M/S. RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore

ASSTT.COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(1), NAGPUR vs. M/S RADHA MADHAV DEVELOPER, NAGPUR

In the result, all the six appeals preferred by the department are dismissed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

24,434/- 4 26/NAG/2020 2014-15 Department 143(3) r.w.s. Abated 1.Sec.69C – 153A Dt. Investment based 22.12.2017 on DVO Report Amount Rs. 6,38,21,488/- 2. Section 68 – Rs. 6 crores total – Unsecured loans from (i) Anubhav Vinimay – Rs.2,00,00,000/- (ii) Blue View Trade Comm.Pvt Ltd. Rs.3 Crores (iii) Raj Laxmi Decision Pvt.Ltd – Rs.1 crore

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR vs. M/S. AAKAR HOTELS, NAGPUR

In the result, appeal of the revenue is dismissed

Bench: Shri V. Durga Rao, Hon'Ble & Shri K.M. Roy, Hon'Ble Accountant, Member

2) of Section 153A would be redundant and/or re-writing the said provisions, which is not permissible under the law.” 20. It is thus clear that in the event any incriminating material is foundduring the search, the Revenue necessarily would be required to take recourse to the provisions of Section 153A and in the event no incriminating material found during

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

reassessment u/s 147 had been passed. 4. Whether on the facts and circumstances, the learned CIT erred in neither making any enquiry on his own nor considering merits of case but simply directed the learned AO to make proper enquiry and further verification thereby, rendering the order passed u/s 263 bad in law which deserves to be set aside

LATITUDE INFRAVENTURES,NAGPUR vs. PCIT,NAGPUR-1, NAGPUR

In the result, appeal filed by the assessee for assessment year 2017–18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

reassessment u/s 147 had been passed. 4. Whether on the facts and circumstances, the learned CIT erred in neither making any enquiry on his own nor considering merits of case but simply directed the learned AO to make proper enquiry and further verification thereby, rendering the order passed u/s 263 bad in law which deserves to be set aside

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant Mmber

2, Raipur” 24 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 28. The learned A.R. submitted that there is no mention in the assessment order in respect of any „satisfaction note‟ recorded by the Assessing Officer of the searched person (i.e., Suresh Agrawal, Kolkata) for the alleged escaped income represented in the form of asset

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant Mmber

2, Raipur” 24 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 28. The learned A.R. submitted that there is no mention in the assessment order in respect of any „satisfaction note‟ recorded by the Assessing Officer of the searched person (i.e., Suresh Agrawal, Kolkata) for the alleged escaped income represented in the form of asset

M/S MAHESHWARI COAL BENEFICATION & INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant Mmber

2, Raipur” 24 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 28. The learned A.R. submitted that there is no mention in the assessment order in respect of any „satisfaction note‟ recorded by the Assessing Officer of the searched person (i.e., Suresh Agrawal, Kolkata) for the alleged escaped income represented in the form of asset

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant Mmber

2, Raipur” 24 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 28. The learned A.R. submitted that there is no mention in the assessment order in respect of any „satisfaction note‟ recorded by the Assessing Officer of the searched person (i.e., Suresh Agrawal, Kolkata) for the alleged escaped income represented in the form of asset

M/S MAHESHWARI COAL BENEFICATION& INFRASTRUCTURE P. LTD,BILASPUR vs. DCIT CENTRAL CIRCLE-1(1), NAGPUR

In the result, appeals for the assessment year 2009–10 to 2013–14 are partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant Mmber

2, Raipur” 24 Maheshwari Coal Benefication & Infrastructure Pvt. Ltd. A.Y. 2009–10 to 2013–14 28. The learned A.R. submitted that there is no mention in the assessment order in respect of any „satisfaction note‟ recorded by the Assessing Officer of the searched person (i.e., Suresh Agrawal, Kolkata) for the alleged escaped income represented in the form of asset

MAYUR KHARA,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, NAGPUR

In the result, Both the appeals of above mentioned assessee’s are allowed

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2016-17 Shri Mayur Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8869 N Appellant Respondent Assessment Year: 2016-17 Shri Amit Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8868 P Appellant Respondent Assessee By: Shri Mahavir Atal, Ca Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 28 /06 /2022 Order Per: Sandeep Gosain, J.M. Both These Appeals Have Been Filed By The Above Mentioned Assessees Against Two Different Orders Passed U/S 263 Of The Act By The Ld. Pr.Cit, Nagpur- 2 Dated 17-02-2017 & 16-02-20217 For The Assessment Year 2016-17 Respectively. The Grounds Of Raised By The Above Mentioned Assessees Are As Under:-

24. In light of above discussion we hold that the order u/s 263 cannot be sustained as we find that the assessment order passed by the AO cannot be said to be erroneous or prejudicial to the interest of revenue, and accordingly the order made u/s 263 is quashed. In our considered opinion, the ld Principal Commissioner, without making further

DP JAIN DARIAPUR JASONDHI (ANNUITY) ROAD PROJECT PVT. LTD.,NAPGUR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), NAGPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S.

2) provides that when the assessment made under Section 153(A)(1) is annulled, the assessment or reassessment that stood abated shall stand revived. 10. Thus on a plain reading of Section 153A of the Income-tax Act, it becomes clear that on initiation of proceedings under Section 153A, it is only the assessment/reassessment proceedings that are pending

M/S D.P.JAIN UJJAIN PACKAGE (ANNUITY ROAD PROJECTS) PVT .LTD,NAGPUR vs. THE PRINCIPAL CIT (CENTRAL) , NAGPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S.

2) provides that when the assessment made under Section 153(A)(1) is annulled, the assessment or reassessment that stood abated shall stand revived. 10. Thus on a plain reading of Section 153A of the Income-tax Act, it becomes clear that on initiation of proceedings under Section 153A, it is only the assessment/reassessment proceedings that are pending

DP JAIN DATIA BHANDER TOLL ROAD PROJECTS PVT LTD,NAGPUR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL), NAGPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S.

2) provides that when the assessment made under Section 153(A)(1) is annulled, the assessment or reassessment that stood abated shall stand revived. 10. Thus on a plain reading of Section 153A of the Income-tax Act, it becomes clear that on initiation of proceedings under Section 153A, it is only the assessment/reassessment proceedings that are pending

UMESH SADASHIV THAKRE ,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(1), NAGPUR

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

reassessment shall be passed by an Assessing Officer below the rank of Joint Commissioner in respect of each assessment year referred..... except with the prior approval of the Joint Commissioner.” 20. The emphasis supplied in the above excerpt of section 153D above, is to highlight the intent of the legislature regarding the necessity of application of mind to the draft